UNIVERSITY OF KENT
MODULE SPECIFICATION TEMPLATE
SECTION 1: MODULE SPECIFICATIONS
1.
Title of the module
Sales Forecasting (CB719)
2.
School or partner institution which will be responsible for management of the module
Kent Business School
3.
Start date of the module
Spring 2015
4.
The number of students expected to take the module
40
5.
Modules to be withdrawn on the introduction of this proposed module and consultation with
other relevant Schools and Faculties regarding the withdrawal
None
6.
The level of the module (e.g. Certificate [C], Intermediate [I], Honours [H] or Postgraduate [M])
Honours [H]
7.
The number of credits and the ECTs value which the module represents
15 credits (7.5 ECTs)
8.
Which term(s) the module is to be taught in (or other teaching pattern)
Spring, to be taken at Stage 3 only
9.
Prerequisite and co-requisite modules
CB313 Introduction to Statistics for Business or CB362 Data Management for Business
CBXXX Consumer Insight
10. The programmes of study to which the module contributes
BA (Hons) Business & Management
BA (Hons) Business & Management with a Year in Industry
BA (Hons) Accounting & Management
BA (Hons) Accounting & Management with a Year in industry
11. The intended subject specific learning outcomes
On completion of this module, students should be able to:
11.1
Critically assess the options available for the generation of sales forecasts in different
business (product / market) contexts
11.2
Apply a variety of statistical methods, using appropriate software, for the generation of
sales forecasts in a number of different business (product / market) contexts
11.3
Measure the impact that promotions have on sales – forecast and actual
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UNIVERSITY OF KENT
11.4
Use relevant theories of organisational and consumer behaviour to model promotional
management processes and the impact on buyer behaviour
12. The intended generic learning outcomes
The module involves the acquisition and development of a wide range of transferable skills, from
data analysis to interpretation and communication. On completion of this module students should
be able to:
12.1
Organise and analyse complex data sets
12.2
Synthesise the results of statistical analysis of complex data sets
12.3
Identify relevant points from the evaluation of statistical output and communicate them
concisely in a written format
12.4
Manage their workloads to deliver scheduled outputs on time
12.5
Make effective use of ICT to analyse, synthesise and communicate management
information
12.6
Develop the ability to work in a group
13. A synopsis of the curriculum
Sales forecasting is a vital area of business activity, given the implications for marketing,
operations management, purchasing and supply. This module provides students with a critical
understanding of alternative forecasting methods and practical experience in the use of statistical
software packages for the generation of sales forecasts. Specific case studies will be used
throughout the module to illustrate the application of the different methods in different contexts.
The key elements of the curriculum are as follows:
1. Sales forecasting and demand management
2. The role of sales promotions
3. Sales forecasting methods
a. Quantitative (Time Series, Regression)
b. Qualitative (Delphi, Sales Force Composite)
4. Sources of forecast error
5. Measuring and improving forecast performance
6. Generating forecasts using SPSS
7. Generating forecasts in Excel
8. Synthesising and communicating sales forecasts within an organisation
14. Indicative Reading List
The primary text for this course is:
Moon, M. & Mentzer, J. (2005). Sales Forecasting Management: A Demand Management
Approach, London: Sage Publications Inc.
Useful texts for complementary and background reading includes:
Ord, K. & Fildes, R. (2012). Principles of Business Forecasting, Andover: Cengage.
Wilson, H. & Keating, B. (2011). Business Forecasting. 5th edition, Maidenhead: McGraw Hill
Hair, J. et al (2005), Multivariate Data Analysis. 6th edition. New York: Prentice Hall,
Harper, C. (2012). In place of price – taming price discounting. Institute of Promotional
Marketing
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UNIVERSITY OF KENT
15. Learning and Teaching Methods, including the nature and number of contact hours and the
total study hours which will be expected of students, and how these relate to achievement of
the intended module learning outcomes:
There is a one-hour lecture, a one-hour seminar and a one-hour computing session per week for
the duration of the module. The objective of the lecture is to introduce formally the conceptual
and theoretical component of the course. Seminars are designed to encourage active learning
and peer-based methods of learning – working with real-time data, generating and presenting
real-time forecasts and sharing key lessons learned from the process. In both lectures and
seminars time is also given for comment and questions.
Students are divided into seminar groups, each of which is divided into study groups. These
study groups are then expected to work together on the weekly assignments set. Weekly
computing sessions are designed to expose students to different statistical software packages,
and give the practical experience of working with real datasets for the generation of forecasts
and the analysis of promotional impacts.
Hours
Subject LOs
Generic LOs
Lectures
11
11.1, 11.3, 11.4
12.1-12.3
Seminars
10
11.1, 11.3, 11.4
12.2, 12.6
Computing sessions
10
11.2, 11.3
12.2, 12.4, 12.5
Private study to read and
assimilate lecture material
34
11.1, 11.3, 11.4
12.1-12.4
Preparation for seminars
20
11.1, 11.3, 11.4
12.1-12.4
Preparation for computing
sessions
20
11.2, 11.3
12.2, 12.4, 12.5
Preparation for exam
45
11.1, 11.3, 11.4
12.1-12.5
Total hours
150
16. Assessment methods and how these relate to testing achievement of the intended module
learning outcomes
The module is assessed by a combination of examination (60%) and coursework (40%).
The coursework consists of two elements:
a) an individual technical report of 2,000 words (20%), in which students are required to interpret
the output from a set of forecasts derived from different datasets and different methods, making
recommendations for improvements that could be made to the data and the methods used
b) an applied business project (20%), in which students, working in groups of four, are presented
with a real-world business scenario and required to design an appropriate promotional plan;
forecast its impact on sales, and present both in the form of a group PowerPoint presentation of 20
minutes (10%) and an individual executive summary (10%) of 1,000 words.
The examination is two-hour, unseen and closed book. It is intended to test individual
understanding of the key forecasting methods and their interpretation and communication in
different contexts. It also tests the student's ability to structure an argument and provide relevant
examples in support of that argument.
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UNIVERSITY OF KENT
Weighting Subject LOs
Generic LOs
Examination
(two-hour, closed book)
60%
11.1, 11.3, 11.4
12.1-12.3
Individual technical report
(2000 words)
20%
11.1-11.4
12.1, 12.2, 12.4, 12.5
Group presentation
10%
11.1, 11.3
12.1, 12.2, 12.4, 12.5,
12.6
Individual executive summary
(1000 words)
10%
11.1, 11.3
12.1, 12.2, 12.4, 12.5
17. Implications for learning resources, including staff, library, IT and space
Staff time for the teaching hours outlined above. Library resources should be sufficient for the
indicative reading; lecturing and seminar facilities. Use of computer laboratories will be required.
There are no further specific IT requirements for this module beyond the usual module website for
module material.
18. The School recognises and has embedded the expectations of current disability equality
legislation, and supports students with a declared disability or special educational need in its
teaching. Within this module we will make reasonable adjustments wherever necessary,
including additional or substitute materials, teaching modes or assessment methods for
students who have declared and discussed their learning support needs. Arrangements for
students with declared disabilities will be made on an individual basis, in consultation with
the University’s disability/dyslexia support service, and specialist support will be provided
where needed.
19. Campus(es) where module will be delivered:
Medway
SECTION 2: MODULE IS PART OF A PROGRAMME OF STUDY IN A UNIVERSITY SCHOOL
Statement by the School Director of Learning and Teaching: "I confirm I have been consulted on the
above module proposal and have given advice on the correct procedures and required content of module
proposals"
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Director of Learning and Teaching
Date
…………………………………………………
Print Name
Statement by the Head of School: "I confirm that the School has approved the introduction of the
module and, where the module is proposed by School staff, will be responsible for its resourcing"
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Head of School
..............................................
Date
…………………………………………………….
Print Name
Module Specification Template
Last updated February 2013
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